Spot power prices slip in Northeast, Mid-Atlantic

With the weather being wet, but not as cold, spot power prices in the Eastern United States decreased Nov. 26.

Eight of the 10 Energy Information Administration (EIA) reporting regions were showing price decreases on Nov. 26.

After seeing its spot price skyrocket the day before, New England saw its spot price drop almost 43% to $65.79/MWh. New York City had the highest spot price in the nation at $68.84/MWh, which marked a roughly 14% decline from the prior day. The Mid-Atlantic saw its price drop almost 17% to $42.36.

The National Oceanic and Atmospheric Administration (NOAA) said Nov. 26 that Heavy snow is possible on Tuesday from the Tennessee Valley to western New England, with freezing rain possible across the Appalachians and western Mid-Atlantic into the Northeast. Meanwhile, heavy rainfall is forecast across parts of the Southeast and Mid-Atlantic, with severe thunderstorms possible for parts of Florida and the coastal Southeast.

Elsewhere, NOAA reported “selected wind peak gusts” upwards of 50 miles per hour at certain sites in California, Kansas, Texas and New Mexico.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.